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A year ago, Skype co-founder Jaan Tallinn and Funderbeam co-founder, Urmas Peiker, had a vision of a blockchain-trading platform designed...

The post Funderbeam Launches Blockchain-Based Trading and Investment Platform for Startups appeared first on Bitcoin Magazine.

Bitcoin price keeps consolidating in a narrowing price range. Although there is a breakout building pressure in the chart, there is not yet any technical evidence of the eventual direction. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now. Bitcoin Price Analysis Time of […]

The post Bitcoin Price Compression Building Pressure appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

The Bitcoin Halving Event, which had numerous predictions of price drops and hashrate drops, had neither occur with both relatively constant.

Blockchain or distributed ledger technology (DLT) has yet to achieve widespread use, but it is mature enough to begin commercial use. Ripple, a DLT technology provider, believes the time is ripe for banks to work together to initiate a network for more efficient inter-bank and cross-border payments, according to a white paper [PDF] by Ripple and […]

The post Ripple: It’s Time for a Blockchain Cross-Border Payment Network appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Blockchain or distributed ledger technology (DLT) has yet to achieve widespread use, but it is mature enough to begin commercial use. Ripple, a DLT technology provider, believes the time is ripe for banks to work together to initiate a network for more efficient inter-bank and cross-border payments, according to a white paper [PDF] by Ripple and […]

The post Ripple: It’s Time for a Blockchain Cross-Border Payment Network appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

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UK digital-only bank Starling has obtained a restricted banking license allowing it to test its systems with a limited number of customers.

It is now inviting prospective users to sign up and plans to launch alpha and beta tests of its product later this year, ahead of a full launch in January 2017. Other new UK digital-only banks Tandem and Atom received licenses in 2015. 

Starling has suffered a number of setbacks. Starling initially hoped to gain a license and launch its product by the end of 2015, but it lost a number of executives early in the year, including ex-CTO Tom Blomfield. It also saw a fundraising round in January 2015 fall apart, due to high consultancy fees associated with building, rather than buying IT systems, according to the Financial Times. Starling raised $70 million this past January. 

Digital-only banks need to differentiate to attract customers. The UK banking market is increasingly crowded, with high street banks and a raft of new digital-focused challenger banks already competing for market share. There are also at least 20 more new market entrants going through the licensing process, according to PwC. 

In order to stand out, Starling will have to offer something significantly better than its competitors — so far all we know is that it plans to launch only one product, a current account, and that it will leverage customer data to provide personal finance management and "smart notifications."

Companies such as Starling show that we’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs.

No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new fintech revolution.

The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes:

• Traditional Retail Banks vs. Online-Only Banks: Traditional retail banks provide a valuable service, but online-only banks can offer many of the same services with higher rates and lower fees

• Traditional Lenders vs. Peer-to-Peer Marketplaces: P2P lending marketplaces are growing much faster than traditional lenders—only time will tell if the banks strategy of creating their own small loan networks will be successful

• Traditional Asset Managers vs. Robo-Advisors: Robo-advisors like Betterment offer lower fees, lower minimums and solid returns to investors, but the much larger traditional asset managers are creating their own robo-products while providing the kind of handholding that high net worth clients are willing to pay handsomely for.

As you can see, this very fluid environment is creating winners and losers before your eyes…and it’s also creating the potential for new cost savings or growth opportunities for both you and your company.

After months of researching and reporting this important trend, Evan Bakker, research analyst for BI Intelligence, Business Insider's premium research service, has put together an essential report on the fintech ecosystem that explains the new landscape, identifies the ripest areas for disruption, and highlights the some of the most exciting new companies. These new players have the potential to become the next Visa, Paypal or Charles Schwab because they have the potential to transform important areas of the financial services industry like:

• Retail banking

• Lending and Financing

• Payments and Transfers
• 
Wealth and Asset Management

• Markets and Exchanges

• Insurance

• Blockchain Transactions


If you work in any of these sectors, it’s important for you to understand how the fintech revolution will change your business and possibly even your career. And if you’re employed in any part of the digital economy, you’ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable.

Among the big picture insights you'll get from The Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry:

• Why financial technology is so disruptive to financial services—it will soon change the nature of almost every financial activity, from banking to payments to wealth management.
• The basic conflict will be between old firms and new—startups are re-imagining financial services processes from top to bottom, while incumbent financial services firms are trying to keep up with new products of their own.
• Both sides face serious obstacles—traditional banks and financial services firms are investing heavily in innovation, but leveraging their investments is difficult with so much invested in legacy systems and profit centers.
• Meanwhile, startups are struggling to navigate a rapidly-changing regulatory landscape and must scale up quickly with limited resources.
• The blockchain is a wild card that could completely overhaul financial services. Both major banks and startups around the world are exploring the technology behind the blockchain, which stores and records Bitcoin transactions. This technology could lower the cost of many financial activities to near-zero and could wipe away many traditional banking activities completely.

This exclusive report also:

• Explains the main growth drivers of the exploding fintech ecosystem.
• Frames the challenges and opportunities faced by incumbents and startups.
• Breaks down global and regional fintech investments, including which regions are the most significant and which are poised for the highest growth.
• Reveals which two financial services are garnering the most investment, and are therefore likely to be transformed first and fastest by fintech
• Explains why blockchain technology is critically important to banks and startups, and assesses which players stand to gain the most from it.
• Explores the financial sectors facing disruption and breaks them down in terms of investments, vulnerabilities and growth opportunities.
• And much more.

The Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry is how you get the full story on the fintech revolution.

To get your copy of this invaluable guide to the fintech revolution, choose one of these options:

1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP
2. Purchase the report and download it immediately from our research store. >> BUY THE REPORT

The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of financial technology.

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Wirex gets it.  Cryptos are only as valuable as the accompanying level of usability. Is this what mass adoption of bitcoin looks like? UK-based group Wirex is now offering a free virtual debit card through its pre-existing app. A user can easily download the app, register their account, download the card and then choose to load it with […]

The post Wirex Launches Free Bitcoin Virtual Debit Card appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Bitcoin Press Release: A Bitcoin gambling high-roller placing huge bets while employing a unique gambling strategy on BetKing.io has won a record payout of 250 Bitcoin, the highest so far on the platform. July 15, 2016, London – The popular Bitcoin casino BetKing is happy to announce that one of its players has won a […]

The post Record Breaking BetKing.io Player Wins a Massive 250 Bitcoin Payout appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Bitcoin Press Release: Breakout gaming, the first gaming platform to have its own ‘multicurrency’ has announced the addition of new game sites to expand its portfolio starting with a ‘Player vs. Player’ platform launching today, July 15. July 15, 2016, Costa Rica – Breakout Gaming, the online gaming entertainment company offering poker, sports wagering, casino […]

The post Breakout Gaming Launches New ‘Player vs. Player’ Platform Following Its Cryptocurrency Crowdsale appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Ether prices surged this week, outshining bitcoin as the Ethereum community made progress toward a hard fork for The DAO.